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The concept of patents can be traced back towards 14th century and it has consistently evolved over time. The thought of patents was how to patent a product introduced to encourage innovators by awarding exclusive rights the actual improvements in technology made by children. In essence, a patent is really a set of exclusive rights granted any country in exchange for a public disclosure of their invention. The rights granted to a patentee, in most countries, include, realize that clean to exclude others from making, using, selling, importing, offering for sale or distributing the patented invention without permission of the patentee. This set of exclusive rights is granted for a fixed period of time, and in most cases the right is limited to 20 lots of years.

The exclusive rights granted to a patentee have business impact, some of which are listed below:

A patentee gets the liberty to enjoy monopoly in the patented invention for 20 years

A patentee can monetize his patented invention by selling or licensing out his rights, in addition to other associated with monetizing

Engineers and scientists can access a refreshing pool of patent information and improvise on existing technology

Competitors will have to create non-infringing products and processes

The business impact of patents could be used function the competitiveness of a business enterprise. A wholesome, systematic and customized approach towards patents is critical to use the power of patents to positively impact your venture.

Intelligent technique to product and process development
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One of your approaches for improving competitiveness of an agency is by having product differentiators. Product differentiators are delivered by developing products that happen to be technologically superior, has newer/better features or addresses specific needs of customers. Sometimes, there will most likely not be any changes designed the product, however, companies might differentiate themselves from competition offering products at reduced prices. This might be possible by making changes to the processes use within producing your handmade jewelry. Such modifications meant to the products/processes might be patent desirable. Hence, when a company feels they will have made some modification that may be patent worthy, it is important to contemplate the idea of having such improvements protected by a patent.